TechTarget vets investment bankers to underwrite IPO

Needham, Mass.—IT media company TechTarget is currently interviewing Wall Street investment bankers to underwrite its IPO planned for next year, according to a person familiar with the situation.

The company expects to choose an investment banker before the end of the year and file for an IPO in the first half of 2007.

“There are pros and cons to filing an IPO, but the pros outweigh the cons” said the source, who requested anonymity. “The cons have to do with public disclosure, but the pros will be getting a very significant infusion of capital, about $100 million investment, to expand internationally and do more acquisitions.”